Sunday, April 27, 2014

Option Open Interest for 25-04-2014

Inference
Nifty opened flat to positive but saw huge profit booking and the index tanked below the psychological level of 6800 and closed near the lows at 6782.75, huge loss of 58.05 points. On a week on week basis the index was flat with a gain of just 3.35 points. The broader market was also weak, with 601 advances to 912 declines. Expected range till before Election result seems to be 6500-7000.
  • Call option 6800-7400 added 12.59 lacs huge amount of OI with small short covering seen at 6400 strike price.
  • Put option 6800-6300 added 15.87 lacs huge amount of OI.
  • Nifty Open Interest is at 1,34,09,300 down by 6,81,950, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 12,96,975 up by 12,750, with decrease in price, most probably short build-up.
  • FII’s sold huge 13.63 lacs Futures, mostly long liquidation as net OI decreased by 5750 contracts (includes 46742 longs to 74000 shorts for the day) and the average price per contract comes to around 6798.85.
  • FII’s future open contract as on date is 271532.
  • PCR Open Interest (Volume) has just nudged up to 1.039.
  • Initial support still at 6800, with OI of 20.01 lacs and below that at 6500 with OI of 26.28 lacs.
  • Initial resistance at 6900 with OI of 20.09 lacs and above that at 7000 with highest OI of 29.04 lacs.
  • Day Range as per Option Table is 6750 - 6852 and as per VIX is 6674 - 6892 with 6808 as the Pivot.
Option Call for 28-04-2014
Buy Nifty 7000CE above 177 for targets of 190, 214 SL - 169
Buy Nifty 6800PE above 230 for targets of 248, 266 SL - 222

India VIX : 30.68 down by 0.45 points
Call OI : 20522400
Put OI : 21314350
PCR OI : 1.039
SMR : 29.54 (Bearish to Neutral: New Series started with huge red candle due to profit booking from higher levels to close below the psychological level of 6800, Range moving forward comes around 6500-7000...)